Cargotec confident worst is over
Having revealed that it was hit “quite severely” by the recession, Harald de Graaf, executive vice president Cargotec EMEA, is confident that the industry is now firmly in recovery mode.
“All revenue was significantly down,” Mr de Graaf said, “but we are now at the other side of that drop and the future looks much brighter.
“We’re not planning for a double dip recession, we trust the market will remain stable or slightly increase; all the indicators are good.”
Mr de Graaf added that Cargotec was investing heavily in growth sectors and plans to be “more aggressive” in emerging markets, such as India, Brazil, Russia and Africa. “Africa has huge potential, but will take a long time to develop,” he said. “Eastern Europe also has huge potential, but will take an even longer time to develop. Turkey is also important, but China has by far the biggest volume potential.”
Cargotec’s order intake and sales were up 37% year-on-year in the first quarter of 2011, although the growth was from a low base and levels are not yet back to those of 2008.
Going forward, Cargotec is expanding its offering for customers. “Longer term, we are moving away from being just an equipment supplier.” Instead the company will focus on product fit, fleet performance and customer performance. “We need to be much more concentrated on complete offerings for our customers.”
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